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BITCOIN – The Currency Of The New Financial Order?

BITCOIN – THE NEW SENSATION ! The internet is abuzz with news and reports about this new currency. In the IT world as well as in the financial world it is making furors. In the midst of collapsing of all fiat currencies of the world coupled with the suppression of Gold and Silver, BITCOIN seems to the story that comes from the underworld to save the financial system, and significant investors are already embracing the idea.

Chris Dixon, a partner at Andreesen Horowitz and well-known technology investor, recently wrote on a personal Web site: “Commodity based, e.g., gold; politically based, e.g., dollar; and math based, e.g., bitcoin.”, suggesting we are now entering the third era of currencies, having already been through the first 2 (this subject of a “third age” seems to very appealing).

Although Occupy Wall Street tried to present itself as a “justice movement”, Glenn Beck clearly exposed this (of course he has his own reasons of which we discussed elsewhere on this site) as a very clever, extremly organized and well financed operation involving the usual suspects like George Soros. One will really understand more about these kind of “revolutionary” movements, and see their true nature and purpose, by reading Fr Seraphim Rose’s Orthodox Survival Course which is available on our site.

The reports about BITCOIN are numerous: BITCOIN ATMs have already started to appear in various locations, the phenomena is reported to have become viral in Spain, property owners in the US are now accepting BITCOINs as form of rent payment, etc etc etc.

Herald Sun has this to say about it:IT’S a currency tied to no country, under the control of no central bank and you won’t find it minted on plastic, paper or metal. Its value has also surged more than 1000 per cent from about $15 to just shy of $170 since the start of the year. They are called bitcoins, a digital currency that has sparked an online trading frenzy in recent weeks, as well as growing warnings of a new asset price bubble. A US citizen reportedly purchased a used Porsche Cayman last month using 300 bitcoins. That’s a far cry from what has been dubbed the most expensive pizza purchase in history when in May 2010 a US programmer swapped 10,000 bitcoins — then worth less than a cent each — for two pizzas. At yesterday’s price the pizzas cost him about $1.7 million. Bitcoins, an online currency now totalling $1.8 billion, was launched by an anonymous computer programmer amid the fallout of the global financial crisis in 2009. The goal was to create a non-fiat currency that could not be devalued by governments or central banks.

Should we believe that BITCOIN is really a “natural response” to the current economic problems? Not so fast.

The details of this new currency are already extremely revealing: it is completely electronic and the history of each transaction is kept forever. Moreover, the source of all BITCOINs in circulation is fully traceable through the chain of transactions all the way to their current owner. It will make any “illegal” transaction impossible, it will eliminate all corruption etc etc etc. Just imagine what the day would look like when they might come out and say: “let’s back BITCOIN by gold and silver” …